clientes de bajos ingresos reclaman a bank of america.enzamos. ♪ ♪ locutor: este es su noticiero univisiÓn edición nocturna con ilia calderÓn y enrique acevedo. ♪ arantxa: buenas noches. inmersos en pÁnico y despavoridos, decenas de estudiantes corrieron por su vida en una escuela secundaria de kentucky con uno de sus compaÑeros abriÓ fuego dentro del plantel. se trata de la primera balacera portal registrada este aÑo dentro de una instituciÓn escolar. viviana Ávila nos tiene lo Último de la investigaciÓn. viviana: el estudiante josÉ quintana de 16 aÑos qquien cursa noveno grado, narra la aterradora experiencia que viviÓ dentro de la escuela secundaria marshall county. >> en la maÑana entre a la escuela y me fui a la biblioteca con mis amigos. estÁbamos hablando ahÍ y se escuchan tres truenos. yo pensÉ que eran cohetes. veo la pistola y le corrÍ yo y una amiga. viviana: dice que se cayÓ dos veces hasta que se pudo parar e ir a un lugar a salvo. >> me encerrÉ hhasta que los policÍas acabaran de buscar. >> mire la pistola pero la cara no la

bank of america eking out a gain. ing about cryptocurrencies saying people could buy it, just not at bank of america. the effective tax rate should be 20%. more of a breakdown of those results. we are joined by alex and williams. first blush for you, what was your biggest take away? cases there were noisy results. the results were at least as good as we were expecting if not better. these are pretty solid results looking in the rearview mirror. expecting a composite outlook. alix: what do make of that revenue from goldman? >> that is obviously not encouraging, down 50% year-over-year. it was worse than expected but not horrifically worse than expected. in an environment where you do a lot of market making, not just a flow trading, your primary clients, nothing is going your way. it was certainly not a good quarter but it was not that much worse than what we thought it was going to be. david: going forward, what is the narrative? diversify? going to >> what goldman has pointed to is to achieve a more balanced -- balance

also a mixed quarter for bank of america. reporting quarterly profits of 70 cents per share. revenue, however, was slightly below forecast in the meantime, we also want to head over to the breaking news desk where wilfred frost has some more details on the bank of america. wilf. >> that adjusted eps number is a slight beat. like all of the banks, quite a bit lumpy. still, that adjusted eps is a slight beat. the main standout of that performance is the trading performances i mentioned moments ago, down just 9% year on year citi and jpmorgan were down mid to high teens. 16 and 17% respectively. we break down the trading, it was a 13% decline in fixed income equities was flat. how goldman sachs stacks up on that measure will be absolutely fascinating at 7:30. trading for goldman sachs is under 40%, just under 40%. it's about 15% now within sort of related trading but come out in loans, they have this same similar single client write down for bank of america it's 292 million we talk about this for citi. we talk about it for jpmor

but we're really pleased, we have a great banking partner in bank of america. our guy, he takes care of us in many, many ways and if you -- i'm not going to tell you the numbers but they're staggering, a lot of bank of america money is going into this transaction. we're pleased for arie to be with us today. thank you. welcome. >> thank you jane. so it's a pleasure to be here today. and first i would like to thank all the other great partners who are part of this great project, mercy housing, san francisco housing association, california housi housing growth council and the mayor's department of housing and acting mayor breed and late mayor lee. obviously there was a huge loss when we lost our partner in crime mayor lee who has been the affordable housing mayor. it's hard to go to these events and not see him here with us. and not know that he is just -- he is missing the event hanging out with michelle obama, which i think happened a couple weeks ago. we invest over $4 billion last year in affordable housing. when we make decisions on where the money is going to

you are going to add $3.3 billi $3.3 billion to earnings for bank of america. that's not going to happen for goldman. >> no. >> bank of america regarding victory, should it be taken up the stock has moved up a lot pay 3%, that's better than wells and j.p. morgan and not as good as citi which is a gracious buyer. they're not going to boost dividend dramatically. i like the course of action of bank of america. i know this is not terrific to talk about but there is a tremendous amount of option of the mobile and mobile is very good because it allows you to have your people at a branch to be selling products and the actual kind of just high cost cars that's being shipped through your mobile. i am not mobile. >> i am not mobile either. social security concerns sometimes. >> if you talk to the guys in the fbi, they'll say don't do anything online. >> what do you call that, head of the fbi >> you do it all in cash at the teller >> when i talk to these guys >> yes. >> ibm doubled up great today >> that's right. >> and barclays. that's why i get up at 3:30. >> are they k

a look at the highlights from bank of america and goldman sachs next. this is bloomberg. >> this is "bloomberg markets." i am shery ahn. >> and i am vonnie quinn. more earnings rolled in, bank of america and goldman sachs reporting earnings. goldman's revenue from fixed income rating tumbled 50% to the lowest level since the financial crisis. laura keller is here. anything to be concerned with, if that isn't too leading a question? >> i think with goldman any concerning trading drop that you have is concerning. that is just how it is. goldman is a bank that has always profited off trading. any time you see fixed income down, that is a cause for concern. i was not listening to that call, so i am not sure if analysts were able to address that question. is fixed incoming seeing a bottom or will we be seeing an uptick. shery: it has some positive turn on investment banking. >> investment banking has been pretty strong for a lot of these banks. m&a has been generally pretty good, maybe not as good as we have seen in past years, but certainly nothing to sniff

how about bank of america. i thought this was one of the best quarters from anyone in the group. bank of america is one of the financial markets you want to own. they have a jigigantic deposit base citigroup, always going to be considered noisy but i think it was a decent quarter. alone growth is encouraging. wells fargo disappointing. the company is still in the process of cleaning up its reputation after cross selling scandal. hence the decliningnet interes decline numbers. the company saw a big pick up in cost thanks to litigation expenses, wells, i am going to call it my least favorite. when you are trying to value the bank stop the key metric is tangible book value. jp morgan and wells are the most expensive. bank of america cheaper, citi is the cheapest my view, jp morgan remains best of breed you can follow along if you want the best play on rising interest rates, go for bank of america. best value of the group is citi. as for wells, out of the woods, but i prefer the others. they are all cheap so it is a bit like splitting hairs let's talk about goldman sachs sold off and

quote, bank of america's bonuses will cost the bank $28 million in 2018, or about 5% of the nearly 2.7% it is sing in 2018 from a low 21%. apple's bonuses will costs dz 300 million, a fraction of the $40 billion at least that the tech giant is saving from a single provision in the law which allows it to hold earns it receives overseas. and two days before wal-mart snagged glowing headlines for handing out $400 million in bonuses and lifting the minimum wage at a cost of $300 million, they unveiled a plan to buy back issued debt, $4 billion. minimum wage, they pay out $300 million, stock buyback, $4 billion. i'm glad that the workers are getting bonuses. they deserve them. it seems to be a tocken effort -- token effort so that they can have huge benefits. a cnbc survey found that, quote, cuts in corporate taxes haven't yet had a meaningful impact on american company companies plans to boost investment or raise workers' pay. we could have imagined a tax reform that was definite few tral, closed loopholes, lowered corporate taxes but stipulated that the money be put into wage increases and

bank obank of america's bonusesl cost 145 million in 2018. in 2018 from theom lower 21% rae and the bonuses will cost 300 million. a fraction from the single provision of the law which allows it to be turned earnings held overseas at less than halfn the rate it woul that would havd him old system and two days before wal-mart snagged the headlines for the $400 million of bonuses lifting its minimum wage at a cost of 300 million of the nation's largest retailer unveiled a plan to buy back issue debt, $4 billion. minimum wage, they pay a 300 million dollars stock buyback 4 billion. i am glad these workers are getting bonuses. they deserve them but it seems recently they are token efforts. the cnbc survey found the texas haven't yet had a meaningful impact on american companies plans to boost investments or raise the workers rate. they closed loopholes while lowering the rate and lower corporate taxes but actually stipulated that the money be put into the wage increases instead of what many are doing now. one time bonuses and massive stock repurc

bank of america, citigroup, among them. between j.p. rgan, cheese, and wells fargo, indicating that hey, this tax overhaul is huge profits for us. they combined a multibillion-dollar profit for alone.wo banks a bullish push, if you will. in terms of you go data, we have reports on home construction and factory activity. in terms of home construction, we have had around of frigid weather in the u.s. that has believed to hurt some of the construction efforts. it is also said to have a chilling effect on shoppers going out. you will likely see those numbers for housing starts down. in terms of senate -- sentiment which we would later, that is expected to tick up. the oil direction will continue to be a very big focus for traders particularly currency traders. if we look at the bloomberg, g #btv 558, it is nearing 70 again. now nearing 65. that is significant. it is interesting to note that there are many u.s. current commodity traders who are concerned that oil has moved this high, this fast. there is some concern that even though we saw it

quote, bank of america's bonuses will cost the bank $28 million in 2018, or about 5% of the nearly 2.7% it is saving in 2018 from a lower 21%. apple's bonuses will costs dz 300 million, a fraction of the $40 billion at least that the tech giant is saving from a single provision in the law which allows it to hold earns it receives overseas. and two days before wal-mart snagged glowing headlines for handing out $400 million in bonuses and lifting the minimum wage at a cost of $300 million, they unveiled a plan to buy back issued debt, $4 billion. minimum wage, they pay out $300 million, stock buyback, $4 billion. i'm glad that the workers are getting bonuses. they deserve them. it seems to be a tocken effort -- token effort so that they can have huge benefits. a cnbc survey found that, quote, cuts in corporate taxes haven't yet had a meaningful impact on american company companies plans to boost investment or raise workers' pay. we could have imagined a tax reform that was definite few tral, closed loopholes, lowered corporate taxes but stipulated that the money be put into wage increases

>> bank of america. >> bank of america. >> it looks like bank of america. >> reporter: can you spot the hack? >> can you name it? >> reporter: you're going to ask your son? >> okay, i give up. >> reporter: that doesn't say bank of america.net. what does it say? >> bnk. >> this is a fake e-mail. and you like and guess what? >> i guess hacked. >> reporter: yeah. up next, red flag number two. bad formatting in the body of the e-mail. check out the blank line in the middle of this sentence. >> what am i missing? >> reporter: look at this weird space in there. >> didn't catch that. >> reporter: another common trick from the thieves. >> i don't see any, no. >> reporter: person after person. >> don't know. >> reporter: unable to spot it. on to red flag number three. links or attachments asking you to update your personal information. >> i'm from a very small town. so let me say that, 5,000 people, we don't get this kind of stuff. >> reporter: you get e-mails? >> yes, i do. >> reporter: after a while, she gives up. can i tell you what it is? >> yeah. >> reporter: never click on an attachment un

the: that is anne finucane, vice-chairman in charge of strategy at bank of america.ark: another great interview. well done. erik schatzker in davos. coming up, an interview with the head of petrobras. this is bloomberg. ♪ mark: live from london, i am mark barton with european close. vonnie: martin good friend is taking questions right now from the senate banking committee. he says the federal reserve is "more or less on the right path." he says inflation could get to 2% within a year or so. he says the 30 year mortgage doesn't need a government guarantee. good friend reiterating what he bestin the past that qe1 qe3 was not called for. mark: we are four minutes away from the and of the session today. france is down. new record for germany. ftse up .3%. check out the currency board. the ecb meeting on thursday. we've already heard from dick weil from janice henderson. 1.2275, near the highs of december 2014. let's see how the european yields are faring on this tuesday afternoon as we approach the close. little change in the u.k. and germany. the 10 year yield in italy

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we'll hear from the fed today at 2:00 p.m we have bank of america, goldman sachs and u.s. ncorp before the bell after the bell, we'll hear from alcoa. wilf what will you be looking for from the banks >> tax rates, citi's tax rate came out at 25%. wells fargo and jpmorgan came out at 19% we expect bank of america to come in at 21. goldman sachs could be just below that level, in the high teens. for goldman sachs, the key thing is trading the last couple quarters they significantly underperformed their peers. looking at down mid teen percent year on year based on what some others have reported if goldman sachs does worse than that, it's a continuation of that recent theme. it's about 37% of their total ree revenue, and costs will be important for both on the bank of america side, we look for deposit beaters you kind of look at things that could derail that positivity, one is looking to pay that big consumer base more money in terms of deposits. so far deposit beaters have been low. we'll look to see whether that continues or not bank of america the clear out-performer, and go

thank you so much for being with us and we appreciate bank of america making these conversations possible and now we will see a quick video from bank of america and i will be back. ♪ you look at the kind of things >> in the world that we can use, the contacts we've made, to hopefully make a better world with respect to some of the issues of today of climate change and we should be able to do it by being smart. >> we start to brainstorm how could we bring financial instruments to the table that would enable us to scale. >> have to be creative together. together. >> we partner with them to create a subsidiary onassets in concert with them and help drive down the cost of capital so that they can sell more at a more competitive price. >> because of how low-risk these investments are, the pension funds, insurance companies, sophisticated money managers, all clients of bank of america are now investing directly. ♪ i love it when i go meet with the ceo or cfo and i find the common link in how we can connect our firm to them. the causes that we believe in. >> thank you very much to bank of americ

>> for bank of america and all the u.s. banks, especially those with a retail presence, it's all about digital. they continue to see more of that. they have all been burned by the embattled south african retailer. is there more to come or is that it? >> this is a cost of doing business, it is a risk. the banks price these risks overtime. it's more concerning if you see one bank having an outsized risk versus the other banks. goldman has not specifically said where the impact is in their numbers. some have pointed to steinhoff, others have not. you do see this type of thing late in the cycle. for credit costs, we've been at unsustainably low levels. how far and how fast it we get get normalization -- do we to a normalization? vonnie: allison williams, thank you. let's check the first word news. hill, housel republicans leaders are trying to come up with a stopgap spending plan that would prevent a government shutdown on friday. lawmakers and say the measure would also delay some obamacare taxes and provide money for children'

thank you so much for being with us and we appreciate bank of america making these conversations possible and now we will see a quick video from bank of america and i will be back. ♪ >> you look at the kind of things in the world that we can use, the contacts we've made, to hopefully make a better world with respect to some of the issues of today of climate change and we should be able to do it by being smart. >> we start to brainstorm how could we bring financial instruments to the table that would enable us to scale. >> have to be creative together. together. >> we partner with them to create a subsidiary onassets in -- that can own asset in concert with them and help drive down the cost of capital so that they can sell more at a more competitive price. >> because of how low-risk these investments are, the pension funds, insurance companies, sophisticated money managers, all clients of bank of america are now investing directly. i love it when i go meet with the ceo or cfo and i find the common link in how we can connect our firm to them. helping with the causes that we believe in. >> t

alix: bank of america, s&p futures up by 10 points. , sold off in the close, moving higher now again. we will save the bank earnings support that kind of rally. euro-dollar, down 4/10 of a percent, will they or won't they worry about the exchange rate? and all across the curve, flattening that we are seeing, yields up to basis points in the 10 year. crude down 4/1

that stock continues to work and today i also added bank of america because of big upside call buying. >> bank of america, despite its outstanding performance last year, was the outperformer jpmorgan is still the most premiumly priced stock it's 1.9 times book. if you look at the big six banks as a whole, only two of them are trading below their ten-year average price to book. and that ability for wells fargo to turn around, particularly on simple measures, when we talk about rates going up, they're geared to that possible cost cutting, they're geared to that that's why the analyst has put that on his conviction list buy. goldman sachs and wells fargo are only up about 6%. >> don't discount the regionals. iusg, the tax -- >> and they have had a nice move this week. >> they have and that will continue because the tax plan is much more beneficial for domestically focused companies, particularly the small and midcap everyone i talk to that owns a medium-size business is putting more money into it so they'll go to the regional banks also >> why, if i say okay, over the last three months t

time charge but also trading revenue fell as heavily by thirty four percent in the past quarter bank of america did a bit better also some trouble with the tax reform related one time charge but overall it was almost the best report for bank of america in the corporate history and besides banking shares falling a bit here in the wednesday session the dow jones industrial average managed for the very first time to also close above the twenty thousand point mark so not everything is in a negative today and score thank you so much for your reporting from wall street french dairy products company like alice is there a pressure raids took place at five of its locations french investigators are looking into how much was tainted and how it got into stores and into baby food. investigators came in the early morning hours to check out his headquarters their goal to help answer some of many remaining questions how did someone there like get into the milk powder and how does the tainted powder get into stores after the kids have fallen ill parents accuse the company of reacting too slowly they threaten to

maria: definitely are. >> pick and choose banks as we can see with goldman sachs compared to bank of americaite bank. maria: j.p. morgan across all cylinders upcoming so well loan growth side picking up where wells fargo is a detriment with scandal j.p. morgan picking up that wells fargo slack. >> let's talk about that joining the conversation this morning, i former cke restaurant ceo former labor secretary nominee and puzder here. >> ryan williams with us host of "varney & company" substitute statue weighs in big hour don't miss a moment of it, we kick off right here a shutdown showdown on capitol hill republicans considering a spending fix, as congress barrels toward friday budget deadline blake burman live at wisely with the very latest blake, good morning to you. reporter: good morning to you house republican leadership presentedmens with a plan would fund government stop georgia measure through february 16 by no means though is a slam dunk this morning, as already skroef members expressing regulation invasions about kicking the revolutio reservationings. >> republicans will come around,

bank of america eliminates its popular account as banks look for new ways to increase revenue. those stories and much more tonight on "nightly business report" for this tuesday, january the 23rd. good evening, everybody. i'm bill griffith in tonight for tyler mathisen. coming to you once again from the new york stocks. hi sue. >> good to see you, bill. i'm sue herera. welcome, everybody. earnings season the is in full swing. four dow components all reported their results today. johnson & johnson, proctor & gamble, verizon, and travelers. this quarter is expected to be a strong one. analysts are forecasting profits to rise by more than 11%, potentially making this the second strongest earnings growth period since 2011. the lofty expectations come at a time when u.s. economy appears to be firing on all cylinders. today's reports have one thing in common. all of the companies had something to say about the impact of the new tax law. and these blue chip results could set the tone for thii thi the to come. johnson & johnson topped earnings and revenue estimates helped by growth in n

broadband households. >>> meantime, bank of america is taking heat after eliminating a free checking -- an item popular with lower income customers. this month all remaining bank of america e-banking customers were switched to accounts that charge a $12 monthly fee unless the customer has a direct deposit of $250 or minimum daily balance of $1,500. >>> we now know how the u.s. olympic team will be decked out for the opening ceremony at the winter olympics in south korea. the uniform was signed by ralph lauren. the park as have a hidden heating unit. the average temperature is 23 degrees and may plunge for the ceremony. the outfit includes fringed suede gloves. >> they look good. more importantly, they look warm. >> reporter: exactly. >> diane king hall at the new york stock exchange, thank you very much, diane. >> thank you. >>> still to come, return to sender. we will show you where that unwanted christmas gift you sent back to amazon ended up and how some people are making big bucks from it. psoriasis does that. it was tough getting out there on stage. i wanted to be clear. i wanted

meantime, let's look at what is going to be happening in terms of citibank and bank of america. t for bank of america, trading revenues are down by about 18% in the third quarter, but bloomberg intelligence things will be for the third quarter in a row for q4, down 14 -- down 30%. the same for citibank, trading all over the place, like a volatility -- a lack of a volatility in the past couple of quarters. citibank report on tuesday, bank of america on wednesday. forward to that. i had, u.s. consumer prices picked up last month, we get the latest from kathleen hays. she will big and what that means for rate hikes, next. this is bloomberg. ♪ ♪ is 7:30 monday morning in hong kong. looks sunny to kick off the week. it is 6:30 p.m. sunday in new york. markets on friday closed at record territories, we talked about the s&p up over almost 7/10 of 1%, the dow adding 200 points. frigid temperatures again this weekend. i am betty liu in new york. yvonne: i am yvonne man in hong kong, you are watching "daybreak: asia." let's get to the first word news. ros: republicans holding out hope of a

arantxa: clientes de bank of america estÁn protestando en contra de una nueva regla que afecta a lase bajos ingresos. la cuenta corriente o de cheques que era gratuita comenzarÁ a cobrar 12 dÓlares mensuales si el cliente no cumple con dos requisitos. les vamos a decir cuÁles son.

dollars in revenue the bottom line for goldman a one point nine three billion dollars loss and bank of america also share the temporary pain from from the tax bill change two point nine billion dollars worth in q four the fourth quarter and bank of a big bank of america rather still posted a profit of two point three seven billion even given that loss and they take it as a sign from analysts that the bank has gotten past a fairly rough period. ten. market watchers are buzzing over news that general electric's leadership is considering a breakup of the iconic u.s. mega-corporation c.e.o. john flannery had floated the idea before and said tuesday that g.e. is quote looking aggressively at many permutations the story is big if true and as they say we'll keep an eye on it but to give you a sense of how big it is archie's ashley banks joins us to explain what a breakup of this mega corporation would mean and how all these pieces of the puzzle could be put together or apart actually well barred wall street is now scrambling to evaluate the standalone value of g.e.'s visit says now over the last year

america first agenda. at the same time, he is vowing to cover stance on trade. we are in montrÉal. bankof america chairman and ceo brian moynihan says the biggest banks are being forced to hold too much capital. what you would like to do with the next of $20 billion his bank is sitting on. all that in the next two hours, but we are 30 minutes into the u.s. trading session. abigail doolittle is here to tell us what is moving. abigail: we have nice gains for the major averages, and for the doubt, another record high. we don't have that you can -- that yet, at least for the s&p 500 and nasdaq. interesting if we see more of the volatility we have had the last two days from where the s&p 500 and the nasdaq have woven into small declines. the day is young, but the bulls are out. we have weekly gains once again. let's hop into the bloomberg and look at g #btv 6636. we have all the gains so far in 2018, and not surprisingly, that has led to the best month of the s&p 500 of 6.6% since march 2016. that was the big rebound after the correction we saw earlier in the year. pretty bullish action for

. >> good discussion one we'll have again thanks >>> shares of bank of america and goldman below 250 a moment under pressure after earnings wilfred frost watching that, has more on what's weighing them down. >> both goldman, sachs and bank of america sold off due to comments made on earnings calls. for goldman, sachs, it related to the tax bill. the cfo says the 2018 effective tax rate would be 24%, higher than forecast and higher than some rivals like jpmorgan and bank of america at 20% chavez said the write down of $4.4 billion relating to the tax bill would impact and lower buy backs in 2018 and investors should expect 5 to 6 billion in buy backs this year. within earnings, goldman, sachs trading performance was down 34%, but chavez was in fact optimistic on the call about the fact that trading could turn around structurally as they gain more corporate clients and cyclically >> most definitely very early and ten days into the quarter so i would not extrapolate anything but i would say market conditions can change and turn rapidly and they have. and it has been a strong start to the

goldman sachs, charles schwab, and bank america.the political front the threat of a government shutdown looms. politicos have to agree on military spending, perhaps a daca deal. we'll see if that includes the funding for the president's wall. join us the founder of private equity group cliff hutchins. tune into the fox business network next week. we'll be open for business. thanks for joining us. i will see you next time. how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com start winning today. if you spit blood you may have gum problems,s and could be on the journey to much worse. try parodontax toothpaste. it's clinically proven to remove plaque, the main cause of bleeding gums. for healthy gums and strong teeth. leave bleeding gums behind with parodontax toothpaste. >> they're cars you never heard of. >> he liked to buy unique cars -- kissels, grahams, overl

goldman sachs, charles schwab, and bank america.e political front the threat of a government shutdown looms. politicos have to agree on military spending, perhaps a daca deal. we'll see if that includes the funding for the president's wall. join us the founder of private equity group cliff hutchins. tune into the fox business network next week. we'll be open for business. thanks for joining us. i will see you next time. julie is living with metastatic breast cancer which is breast cancer that has spread to other parts of her body. she's also taking prescription ibrance with an aromatase inhibitor, which is for postmenopausal women with hormone receptor positive her2- metastatic breast cancer as the first hormonal based therapy. ibrance plus letrozole was significantly more effective at delaying disease progression versus letrozole. patients taking ibrance can develop low white blood cell counts which may cause serious infections that can lead to death. before taking ibrance, tell your doctor if you have fever, chills, or other signs

popular with some lower income customers. >> this month all remaining bank of america e banking cussping ers were switched to accounts that charges 12-dollar monthly fee unless the customers has direct deposit of 150 or minimum balance of 1500, and budweiser has fallen from its perch among the top three beers in america, industry tracker beer market says miller lite has now jumped above the once american sweetheart, until 2001, budweiser number one selling brew but gave up that title to bud light. rahel, jim? >> stiff competition apparently, diane. >> i want to know -- >> battle of the bruce. >> you know me with the wine coolers. >> you want the wine cooler ranking? i have to get back to you on that. >> being thank you, diane. >> jerry manned erring case may go to the u.s. supreme court. two republicans say senators want to change the pennsylvania supreme court decision, which struck down the boundaries of the state's 18 congressional district. last summer you may recall, democratic voters sued claiming the boarders were re -drawn to benefit republicans. the court is giving pennsylva

>> there's never enough money to invest and always additional project but look at bank of america. ey have a level of deposit generation through mobile banking equal to 1,100 bank branches. >> by the way, this doesn't eradicate the threat because the name value of the brand of an amazon. >> 80 million prime users, they could be banking customers overnight. >> per individual. >> they are -- you know, jpmorgan or whoever is not going to buy them. they can't so that doesn't remove the largest threat that you're talking about. >> you've seen it happen in china, too, with alibaba. >> right. >> hand they moved. >> in other words, a lot is set up for the banks to have a great year we totally agree, but i just think that it's one morning our going to wake up and one if not all of the companies i mentioned, including apple, by the way, could decide it's in their best interest to eliminate whoever is the middle layer and go right to their consume we are a solution for handling their money and lending them money, whatever, and then i don't know how you do earnings estimates, you know, going fo

david: it was tied to the bank of america stock price. own to cents on dollar and the state of michigan bought a bunch of them up, and now they are worth a lot of money. jason: bank of america, over a long period of time, the stock price has climbed. win for johne paulson, at a very good that. -- bit. david: michigan can use the money. alix: i know you are biased, but did you want the straight -- state treasury to be buying it? david: no. did they know what they were buying? alix: john paulson is experienced. david: i recall warren buffett had warrants from bank of america, so you think maybe it is not such a bad thing. jason: it is seven cents. the downside is fairly limited, and we have seen pension funds get more and more sophisticated over the past 20, 30 years. dig into alternatives come up this is obviously a very specific type of instrument and it seems to have paid off. alix: the next story i love is if you are working as an economist in a major bank in the u.s., because a love nafta if you are from canada or mexico. this is crazy.

bank of america eliminated a free checking account popular with lower income customers. to keep a daily balance of $1,500. many customers were not happy about the change. creating a change has more than 45,000 signatures. bank of america says the account is a great value and it offers several ways to avoid that monthly fee. >>> netflix price hike is not denting the subscriptions. the strongest gain ever. netflix credits the content with "stranger things" which returned in the second quarter. netflix took a $39 million charge for content we decided not to move forward with. a source tells cnn it was due to ending "house of cards" and cancelling the release of "gore." both projects start kevin spacey spacey. $39 million problem. >>> for years, facebook tout as a tool to connect people. now social media to corrode democracy. facebook wrote that in a blog post. part of the series of social media distorts democracy. it is criticized for letting trolls use the platform to meddle in elections. >> and rupert murdoch hands facebook to pay for news running its content. interesting

thank you all for being with us for our state of the union post game.i'd like to thank bank of america for making these conversations possible. staff, around-the-clock and my many other colleagues were here, margaret mitchell and neil rothschild, many others who are here , grateful to you all and all of you for coming out so early this morning and i look forward to seeing you on axios.com. >> congressional republicans on their retreat in west virginia, vice president mike pence will be tonight and we will have that here on c-span2 and the president will travel to west virginia and the retreat at 5:20 1 pm eastern on c-span thursday. >> for nearly 20 years, in-depth has featured the nation's best-known nonfiction writers through life conversations about their book. this year is a special project, we are featuring best-selling fiction writers from our monthly program in-depth action addition. join us live sunday at noon eastern with colson whitehead, author of the 2016 best-selling novel the underground railroad which was awarded a pulitzer prize and the national board.his other novels i

with us, bank of america is changing its fees for checking account.ank america says those with low balances will have a difficult time to continue to receive free checking. they plan to switch ebanking customers to accounts that require 12-dollar monthly fee and deposits of $250. and maintain a balance of 1500 bucks. customers have launched a petition to get the requirements dropped. >>> national association of realtors say sales of existing homes fell more than 3.5% last month that's due to rising prices and available properties for sale. following the housing crisis of 2007 investors bought up properties and turned them into rentals. many homeowners are choosing not to sell, but stay put and build equity. >>> starbucks is spending $250 million on employees. the money is from tax cuts. they will be used to give to employees and given to stock grants him they will give nonbirth parents up to 6 weeks paid leave. >>> general mills have created early new boxes you may love or not like so much. it was partnered with riewb -- rube goldberg cereal boxes tha

bank of america says it is a great value and offers ways to avoid the fee.eck to paycheck customers, $1500 is not going to do it. >>> netflix members is not harming the numbers. the strongest subscription gain. the company canceled "gore" and "house of cards." bo >>> facebook tout a tool for connecting the world. now admitting social media allows people to spread misinformation and corroding democracy. facebook has been criticized for letting trolls use the platform to meddle in the election. a lot of people say too late by many. >> big factor. >> thanks for joining us. i'm christine romans. >> i'm dave briggs. we pass the native-american talking stick to chris and alisyn. . >>> the businessman dealmaker was awol. >> what the president did clearly worked. >> president trump claiming political victory saying he's eager to